Dec 5, 2012 3:00am PST
the fiscal cliff. right after the election wall street dropped 5% when everybody suddenly focused on the fiscal cliff and realized that this was a problem. but since then it's kind of bumped along at this sort of level. i don't think wall street is at all sanguine about the idea that if we went over the fiscal cliff, life would go on as we know it and everything would be fine. >> one of the things that was really interesting to me to bear out that point is ken conrad yesterday who's been so down, i mean, he's leaving the senate. he's done this for seven years. they can't produce deals. and yesterday when i interviewed him, joe, he said i think we're going to make this. i think the boehner offer had significant indicators that something here is going on, and they're going to come together. >> also, kent conrad, a guy -- i've loved him for a long time, deficit hawk. they haven't allowed him to put a budget out for years. he's growing frustrated. i'm sure he's going to be glad to leave. but i was surprised by that as well. you see also, sam stein, republicans are now starting to real
Dec 5, 2012 1:00pm PST
this election. it's not like the debt ceiling debacle in 2011 went over well with the american public. the american public was disgusted by it, it was brinks manship that people did not like to see, in a recession, they thought it endangered the economy, republicans also know that if you look at the polls and they look at the polls, that the public would blame them if we go over the fiscal cliff by a 2 to 1 margin. so i would say that right now, and i think even republicans would stipulate this, wolf. the president has the leverage here, i mean, republicans also know that if they were to go over the cliff that the tax cuts on the wealthy would increase. you could come back and undue the tax cuts on the middle class expiring. but the president's in a pretty good bargaining position here, which is why you see him sort of hold firm. >> what leverage do the republicans have? >> well, look, i think it -- they understand that for some liberals going over the cliff is okay, because liberals say, you know what, we get those defense cuts we wouldn't get otherwise, and they believe the public w
Dec 5, 2012 5:00pm EST
the first democratically elected president it egypt, who happened tt be muslim brotherhood and forced out that demonstrated against him are more liberal. middle society, women, labor and minorities. that is indicative morsi is not representative of the consensus that we thought he would represent and that is the crisis that will be on for a long period of time. melissa: as we watch all these pictures go by and we know how some people feel about the west and america and especially morsi, we considered the idea we're sending $1.6 billion in aid to egypt every year. now europe is calling on the u.s. to stop that. what do you think about that? what is our best move at this point? >> well, let's remember that those 1.6 more or less billion dollars that we've been sending to the egyptian government, to mubarak for last 30 years or so, were sent for egypt to protect the peace with israel. to make sure the suez canal is always open for international trade and maintain security and friendship with the united states. now that morsi and the muslim brotherhood and salafists allies have form ad govern
Dec 5, 2012 7:00am PST
health care was in the news and also, of course during the last stages of the election. >> this is the first time you've chosen words the year, right? two words paired. >> what we see is that socialism had larger number of look ups but what we saw when people looked up socialism they went and compared that definition with capitalism and i want shows really a pairing of a kind. >> what were the runner up? >> there were runner ups that came from the election also. the word malarky. one of the biggest spikes when vice president biden used that. schadenfreude, the german word for damage and joy, taking pleasure in somebody else's sadness. and the word meme because of all the internet meme that came out of the deaf bait, hillary clinton's texting earlier in the year. >> think it's so interesting that socialism and capitalism came up as the words the year because the president was branded as a socialist so people were looking to the actual definition. clearly you saw a huge uptick in online searches. >> what's great about having the dictionary online the data floss two ways.